What is Holiday Let Management Software?

Holiday Let Management Software is a Property Management System (PMS) that streamlines operations and enhances guest experience in the holiday rental industry. It takes a lot of effort to run a successful holiday let, and anything that simplifies tasks and enhances the guest experience is essential.

With a wide range of software providers, choosing the right PMS is a significant decision for holiday homeowners. Today's blog outlines how to evaluate features, benefits and important factors before choosing a PMS for holiday let booking software.

What Are the Benefits of Holiday Let Benefits?

Property owners and managers benefit from holiday let management software in a variety of ways. These platforms are indispensable tools for automating time-consuming tasks, preventing double bookings and promoting the growth of holiday let operations.

Here's a look at some of the key benefits:

Saves time

One of the major benefits of property management software is that you’re able to automate some of the most time-consuming and repetitive admin tasks.

For example, you can send pre-prepped emails to respond to enquiries, request payment, send arrival information, etc. The bonus of automation means you have more time to focus on growing your business.

Prevents double bookings

Automating bookings and using a channel manager reduces the risk of human error and prevents accidental double bookings.

Grow your business

If you’re eager to increase your bookings, bottom line or expand your property portfolio, the right software gives you useful insights into your property’s performance through automated reports and analytics.

What Are Some of the Main Features of Holiday Let Software?

The main purpose of management software is to make managing a vacation rental easier on a daily basis.

Here are some of the main features to look out for,

Integrate with multiple booking platforms

To stay competitive in the growing holiday rental industry, you’ve got to list your property on several booking platforms such as Airbnb and Vrbo. The more booking sites you list on, the more difficult it gets to manage your listings, bookings and calendars across all channels.

A channel manager will integrate with these sites so you can keep your calendars synchronised, distribute your listings across multiple booking platforms and sync your rates. You manage your listings all from a single dashboard. This also helps you avoid double bookings, mistakes from manual data entry, and inconsistent rates.

Guest communication

Communicating with guests is a huge part of holiday rental management. From responding to enquiries, sending payment reminders, check-in details and post-checkout follow-ups. Providing a great guest experience is only possible if you can quickly address questions and stay on top of guest communications.

Using a PMS eliminates the need for you to switch between multiple communication mediums as it allows you to communicate with your guests via one unified inbox. These messages can also be automated to be sent at pre-set dates, therefore eliminating the need to send repetitive emails.

Manage bookings from a single platform

A PMS enables you to manage availability and existing bookings from a centralised platform. You can access all the booking essentials and guest information like their contact details, booking history, special request,s etc.

Simple and secure payments

Alongside online booking, you’ll want to be able to take a deposit, the balance and full payments online. This makes the booking process seamless and secure for guests and it also means you can be certain that you’ve been paid. A PMS should integrate with payment gateways or provide you with a payment solution.

Taking payments securely online is also a huge comfort for travellers who may have concerns about booking scams.

Calendar management

A centralised reservation system offers hosts a complete view of all previous, current and upcoming bookings no matter where those bookings were made. A simple overview of the calendar allows you to identify any available dates, so you can tweak your prices accordingly.

Website builder

This essential feature allows you to build and update your own fully functional website without the need to hire a website developer. A website enables you to accept direct bookings and cut down on listing site commissions so you earn more income.

Accounting

The software will help you keep track of all your financial data, expenses and profitability. You can see how much revenue you are generating and the source so you can identify your top (and worst) performers.

Task management

Task management tools enable you to assign tasks to your team members such as housekeepers or maintenance. You can communicate with your team members and keep track of who’s responsible for what, and identify any outstanding or completed tasks.

Reporting & analytics

You can’t manage or improve what you don’t measure, and a reporting dashboard gives you an overview of how your business is performing. By creating insightful reports on occupancy, booking source, repeat guests, booking duration, lead times, bookings by month, etc. you can make data-driven decisions to maximise revenue and grow your business.

How do you choose the right Holiday Let Management Software for your property?

No one knows your business needs like you do and only you can decide which software has the right solutions to reduce your workload and improve your business operations, goals and objectives. Choosing holiday let software can be overwhelming, but you must choose the right software as nobody wants to waste time, money or have to migrate to another provider in a year or two.

Here’s what to look for when comparing software so you can find the best solution.

The costs

Most people prioritize price when shopping, but relying solely on price can lead to inadequate software. It's crucial to consider the total cost, including initial purchase, setup, subscription fees, booking commissions, card transaction fees, booking processing fees and extra charges for upgrades, features, or users.

Consider whether to pay monthly or if there's a discount for annual payments.

Technical support

A team of technical support experts is crucial for addressing system issues and providing onboarding assistance, including training, data import, and customization of the PMS, as they are well-versed in the system's functionality.

Is there a free trial or demo?

Ideally, a free trial or demo should be available before committing, allowing you to demo a shortlist of 3-4 suitable solutions.

Easy of use

The holiday rental management software and booking process should be user-friendly, as a complicated system can waste time and lead to costly errors, and should be seamless for guests to avoid abandoning the booking.

Updates and integrations

To ensure a successful partnership with a software provider, ensure the PMS integrates with your existing or future software, such as listing platforms, pricing and payment processors.

Regular updates on the software indicate the company's commitment to improving and developing a sophisticated booking system. Check the company's blog for regular product updates. Choose a company that grows with your business, rather than outgrowing it.

Read the contract

To avoid hidden surprises, read the terms and conditions thoroughly. Determine the contract duration, whether monthly or yearly and ensure the data migration process is easy. Ensure the T&Cs allow exporting data in standardized formats like CSV for easy switching between systems.

Reviews

When choosing a booking software, it's crucial to research reviews from other property managers, evidence of excellent customer support, user experience from software review sites such as G2 and Capterra. Look for case studies, live versions, or testimonials from hosts who have used the software and proof of its effectiveness.

What is the Best Holiday Let Management Software?

Hostaway!

Hostaway is an excellent holiday let management software choice due to its user-friendly interface, robust features, and seamless integration capabilities. Using Hostaway, property owners can easily manage bookings, automate guest communications, and sync listings across multiple platforms, allowing for a hassle-free stay.

Moreover, with its advanced reporting tools, Hostaway's responsive customer support and frequent updates underscore the company's commitment to staying on top of the competition by embracing a comprehensive solution that enhances efficiency and optimizes the overall holiday rental management process.

Make the Most of this Holiday Season

The right holiday let management software is a game-changer for owners and managers. It automates repetitive and tedious tasks, streamlines operations, enhances guest experience and maximises rental income. All your booking data can be securely stored in one place with the right software, making your life easier.

It is important to research extensively before moving forward. Analyse the features you really need and the ones you don't. Finally, pick a service provider that ticks all the boxes when it comes to data security, customer service, and making the booking process and management easy.

Investing in holiday let management software is one of the best decisions you can make for your vacation rental business.